CPI

Loonie Soars After Bank Of Canada Unexpectedly Hikes Rates By 25 bps

With only 6 of 33 forecasters predicting a rate hike in today's Bank of Canada announcement, it was inevitable: the Bank of Canada surprised a good 75% of the market, and triggered massive stop loss orders in the looni, when moments ago it announced a rate hike of 25bps to 1%, sending the USDCAD lower by nearly 300 pips, the biggest spike in the loonie since March 2016.

August Payrolls Preview: Prepare For Disappointment

If there is one common theme across sellside previews of tomorrow's nonfarm payrolls number, expected at 180K after a surprising jump to 209K in July, it is to brace for disappointment, or in Wall Street parlance, "downside risks."

World Stocks Rebound, Dollar Rises As Korea Nuclear War Fears Recede

S&P futures are higher in early Wednesday trading, alongside Asian stocks and European bourses, both solidly in the green as the EURUSD drifts below the 1.20 "redline" while the dollar rebounds off a two and a half year low following the US "measured" response to North Korea’s missile test, which soothed jittery investors who now turn their focus to US economic data.

Key Events In The Coming Week: Payrolls, Core PCE, GDP, ISM And More

After last week's relatively quiet economic calendar and focus on Central Banks, attention this week turns back to data. In a relatively busy data week ahead - particularly for the US - focus will likely be on Friday's NFP, Q2 GDP revision on Wednesday, ISM manufacturing reports on Friday and inflation prints from the Eurozone.

RBC: As The Yellen Countdown Begins "You Could Get A Sharp Move Higher In USD"

"If Chair Yellen uses today’s “financial stability’ theme as grounds for leaning ever-so-slightly hawkish despite the flurry of CPI misses , you could get a SHARP move higher in USD, as rates diffs shift counter-trend.  And if USD gaps higher, this is a disruption of correlations to the “policy convergence” trade previously discussed."

Global Stocks Rise Ahead Of Much Anticipated Speeches By Yellen, Draghi

Global markets are stuck in a holding pattern with S&P futures up modestly after fluctuating overnight, as European and Asian shares rise with oil while the dollar has dipped lower ahead of the biggest central bank event of the year: the Fed's Jackson Hole symposium where Janet Yellen and Mario Draghi will speak at 10am and 3pm ET, respectively.

Why Janet Yellen Is About To Hate Bacon

For 99.9999% (our estimate) of Americans, there is great news on the way - retail bacon prices are about to plummet. However, with food accounting for 14% of CPI, we suspect the pork-price-pounding is about to become Janet Yellen's new 'transitory' problem.

Paul Brodsky: "Sorry, It Had To Be Said"

"Mr. Trump’s "Being There" presidency is reflecting an inconvenient truth back on a society that has, until maybe now, successfully deluded itself into believing government is functionally the glue holding society together..."